Suspense Crime Sach Ka Dam
Orient Technologies’ IPO (initial public offering) received 151.71 times subscriptions on the last day on Friday. According to data from the National Stock Exchange (NSE), bids were received for 1,13,02,20,648 shares against 74,49,846 shares in the initial share sale of Rs 215 crore. According to PTI news, the portion of non-institutional investors got 300.60 times the subscription, while the portion of qualified institutional buyers got 189.90 times the subscription. The portion of retail individual investors got 66.87 times the subscription.
Offer for sale of 46 lakh equity shares
According to the news, information technology solutions provider Orient Technologies on Tuesday raised Rs 64.42 crore from anchor investors. The initial public offering (IPO) is a combination of a fresh issue of Rs 120 crore and a sale offer of 46 lakh equity shares worth Rs 95 crore at the upper end of the price band by the promoter. Thus the size of the transaction has become Rs 215 crore. Ajay Baliram Sawant, Umesh Navnitlal Shah, Ujjwal Arvind Mhatre, and Jayesh Manharlal Shah are selling the company’s shares under the OFS.
The price band is Rs 195-206 per share
The price range for Orient Technologies IPO is Rs 195-206 per share. The proceeds from the fresh issue will be used to fund capital expenditure requirements of Rs 79.65 crore, Rs 10.35 crore for the acquisition of office premises in Navi Mumbai, and a part for general corporate purposes. Over the years, the company has developed deep expertise in building products and solutions for niche themes in IT infrastructure, IT-enabled services (ITES), and cloud and data management services.
Who is the book-running lead manager
Orient Technologies has diverse clients across both public and private sectors, including industries such as banking, financial services, insurance (BFSI), information technology (IT) ITES, healthcare, and pharmaceuticals. Orient Technologies’ order book as of June 30, 2024, stood at Rs 101.20 crore. Revenue from operations during FY 2024 grew to Rs 602.89 crore from Rs 535.10 crore in the previous year and profit after tax grew to Rs 41.45 crore from Rs 38.30 crore. Elara Capital (India) Private Limited is the sole book-running lead manager for the IPO. The equity shares are proposed to be listed on BSE and NSE.
